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Digital Transformation ~ VCI Partner’s View

A recent global survey found that while CEOs generally understand the strategic opportunities and threats of digitizing their business, many have yet to build and communicate a vision for their companies or to develop a strategy to make that vision a reality. Most functional leaders lack the skills and knowledge they need to execute a digital strategy, even if there’s already one in place. But strong digital leadership matters. The VCI State of Play survey found that companies that rate highly in both digital leadership and management (putting in place and managing the people, processes, and technology to execute the digital vision and strategy) have better business results than their peers, with stronger revenue growth and greater profit margins. Just under a fifth of survey respondents fell into this “Digital Leader” category, while over a third were deemed “Laggards”— weak in both digital leadership and management. Close to half had mixed scores and were rated “Followers.” This research further supports the strong view that digital transformation is an executive accountability and should be treated as such. (Source: VCI State of Play Global Research)